The zero-down-payment deal eliminates the upfront financial burden but comes with a slightly higher interest rate. Buyers who choose this option will be charged an annual percentage rate (APR) of 2.49%. Consumers who make a down payment will receive a lower APR of 1.99%.
What credit score do I need to finance a Tesla? Tesla does not state a minimum credit score for financing. However, as with other brands, you will have much better luck securing a lower APR if you have a better score. Try aiming for a credit score of 720 or higher to get the best possible rate.
That's where leasing a Tesla flips the script. The 2024 Tesla Model 3, for example, isn't only affordable, it's built for convenience in ways that actually matter for your daily grind. For just $299/month, you could be driving a newly styled, stealth-grey Model 3 with a 272-mile range and a 0-60 time of 5.8 seconds.
Many insurance providers classify Teslas as luxury vehicles, charging high premiums. According to Insurance.com, coverage for a Model Y costs about $2,599 per year, and insurance for a Model S costs around $4,318.
Many credit decisions are available within a few minutes, with most available within 48 hours. However, some may occasionally take longer due to unforeseen circumstances. You can check the status of your application in the 'Payment Method' section of your Tesla Account.
If you cancel your order after you completed a credit application through your Tesla Account within 7 days after you placed your order and that credit application was not approved, the Order Fee will be refunded.
The Model 3 is now $329 per month, down from $380 in September and $399 in January. The Model Y is now $399 per month, down from $499 last month, according to Electrek. Tesla offers 24- and 36-month leases, both with a $4,500 down payment (which is unchanged despite the lowered monthly payments).
While ZipRecruiter is seeing salaries as high as $22.56 and as low as $11.53, the majority of salaries within the Tesla Factory jobs category currently range between $16.06 (25th percentile) to $18.80 (75th percentile) with top earners (90th percentile) making annually in Los Angeles.
The price of the 2024 Tesla Model 3 starts at $40,630 and goes up to $54,630 depending on the trim and options. Rear-wheel drive and a single electric motor are standard, but a dual-motor all-wheel drive setup is available.
Depending upon which vehicle you intend to lease, you should expect to make a down payment ranging from $4,500 to $7,500. Annual mileage limits range from 10,000 to 15,000 miles per year. You can use the Tesla lease calculator on any Tesla model page to calculate your monthly lease payment.
Try to avoid keeping the battery below 20% charge for an extended period of time. When the battery is too low in charge, the battery icon will turn yellow and the available range will drop if the vehicle is parked in colder temperatures.
Tesla partners with big banks like Wells Fargo and US Bank for financing. A good credit score (720 or higher) or a large down payment (typically 20%) make it more likely that you'll get approved for a lower rate. US Bank's lowest auto loan rate as of February 2023 is 6.86%. Loan terms are typically 36-72 months.
Ideal Scores: For the best Tesla financing rates, aim for a credit score of 720 or higher. This score indicates to lenders that you are a low-risk borrower, making it easier to get approved with competitive rates.
The EV tax credit income limit for married couples filing jointly is $300,000. And, if you file as head of household and make more than $225,000, you also won't be able to claim the electric vehicle tax credit. The EV credit income limit is $150,000 for all other filing statuses.
Tesla's most recent report states that Tesla car batteries will last for over 200,000. Tesla car batteries are warrantied to last 8 years or up to 150,000 miles, depending on the model, whichever comes first.
Tesla annual income taxes for 2022 were $1.132B, a 61.95% increase from 2021. Tesla annual income taxes for 2021 were $0.699B, a 139.38% increase from 2020.
How much does a Tesla model cost? A Tesla can be priced as low as $38,990 or as high as $113,630 in 2025, depending on the model and added features. The cheapest Tesla model is the base Model 3 Rear-Wheel Drive, starting at $38,990. This is less than the average cost of an electric car, which is about $55,000.
Safety Score Beta assesses driving behavior of Tesla vehicles based on several metrics called Safety Factors. These are combined to estimate the likelihood that driving behavior could result in a future collision.
How Much Does Tesla Insurance Cost? Full-coverage car insurance for 2021 Tesla vehicles costs an average of $4,098 per year or $352 each month. This makes Tesla auto insurance premiums approximately 53% pricier than for the average vehicle with a full-coverage policy.